The overall market’s trend is considers as mixed today as there were 360 up counters and 275 down counters with the market total traded volume increased by 1.8 % to 685 MIL shares. The market volume is below 40 days but very to it.
Today’s FBMKLCI top 5 gainers components are BAT, DIGI, PETDAG, HLBANK and TANJONG. The top 5 lagging components are AMMB, PBBANK, GENM, TM and AXIATA.
FBMKLCI Technical Indicators
The INDEX still stays above the Mid-Band with the Bollinger band opened 5%; this indicates FBMKLCI is consolidate with bullish biased.
RSI hooked up slightly to 78.64; this indicates FBMKLCI is slightly bullish.
STC %K hooked up to 87.7 and the %D increases to 90.4, this indicates FBMKLCI is bullish biased.
The MACD line is growing upward and crosses the ZERO level, this indicates FBMKLCI is bullish biased.
All the indicators indicate FBMKLCI is bullish biased however the trend was built during the closing period. We notice a lot of 2nd and 3rd liners started to move in the late afternoon session. This move indicates the buyers had gained confident on the market. Further analysed the sectors performance, ACE market, Finance, construction, Trading and Services and Consumer index are trending up. The construction index even shoot above the left shoulder to avoid downtrend. All these bullish signals are pending to be confirmed for a next few days.
The nearest possible resistance levels for FBMKLCI are 1335 and 1350 whereas the nearest possible support levels are 1325 and 1320.
